₦airaland Forum

AltarBoy1:
99% of wealthy people are business men, you wont get to a greater height in wealth if you dedicate your entire life on a paid job. The average worker who is upright and doesn't involve in shady dealings ends up not been too wealthy or achieving much in life. Aside from multinational company's, most firms in Nigeria pay belwo 100k and when you factor in cost of leaving and daily expenses, how much can one save out of the salary in a month. Thats why I noted in the beginning of this write up that except you are working in a firm where your salary is above 100k and promotion/upward review of salary is certain within 3 years, then you are just wasting your youthful age when you work in such a place for long. If at the end of a year, you cant be able to save up to 1M, just try as much as you can to quit the job. Though its not easy, but its better you bear the heat and get out when you are strong and agile than wait when you get old.

My advice is that as early as possible, one should start looking for a business to start, irrespective of the nature of the business, as long as its legal and pays your bill just dedicate yourself to it and nurture it to growth/maturity. Business is easier to manage and nurture when your personal expense and responsibility is still very low, thats why its good to start when you are still under your parent, as a student or during NYSC. That way, even when the business fail, you have your family to fall back on until you gather the necessary resource to start again.

On a last note, when you have a striving business, by the time your kids grow up, one or two of them can you in the business and probably be on their own by having an offshoot of your business. That way they wont have to be looking for a job after school especially in this period of unavailability of jobs. But if you retire as a worker, you have nothing to pass to your kids to help them kick start their life. They will have to search for job or establish their own business.

I will also advice that if you have the opportunity of picking up a job as a sales rep of a company, please do not hesitate to accept it as this type of job gives you first hand experience of how businesses of buying and selling works. You will get to know how the market moves, the season when some certain goods are in high demand and with this experience, starting your own business in same line wont be difficult for you as you can even get some capital and purchase goods in the name of your customer and if you have a good relationship with him or with those around, selling the goods wont be much difficult through their help pending when you get your own shop/warehouse.

MODIFIED...
My own rule of thumb is... IF YOUR JOB IS YOUR ONLY SOURCE OF INCOME, DONT QUIT YOUR JOB FOR A SIDE BIZ UNTIL THE BIZ IS A "GOING CONCERN" AND IS GIVING YOU MORE THAN HALF OF YOUR MONTHLY SALARY.

AltarBoy1:
What am about to explain is based on my own personal experience and that of those around me. What worked or didn't work for me doesn't mean its applicable to others. You might try and succeed. But am only here to give my own experience. Sorry, this post is gonna be long.

The lesson I want us to learn here is for us to know that working in a firm (esp banks or offices where you stay indoor from 8am-5pm) that pays you less than #120k-#150k per month with little or no assurance that after 2-3 years, you will be promoted or salary increased is a waste of your youthful age, better you start nurturing any form of legal business that you can start and manage. In view of this, I will be making some detailed Analysis and CALCULATION as I put down my experience. The analysis and calculation is to show you how "small small" business that we neglect and take not to be profitable is actually better than having a monthly paid job.
I started working in the bank around first quarter of 2016. I was excited that I got a job, hoping to start contributing financially to my family. But before I proceed, let me take us back a little for a better understanding.

AltarBoy1:
I will have to stop here for now. I welcome any form of question or criticism. But no insults plz.

PitexyBaba:
What type of business and where?
Thinking of starting too ....don't know exact one I can try

jaybliss1410:
Brotherly, I also need a buz idea. Never can tell if your buz would suit my environment here

AltarBoy1:
99% of wealthy people are business men, you wont get to a greater height in wealth if you dedicate your entire life on a paid job. The average worker who is upright and doesn't involve in shady dealings ends up not been too wealthy or achieving much in life. Aside from multinational company's, most firms in Nigeria pay belwo 100k and when you factor in cost of leaving and daily expenses, how much can one save out of the salary in a month. Thats why I noted in the beginning of this write up that except you are working in a firm where your salary is above 100k and promotion/upward review of salary is certain within 3 years, then you are just wasting your youthful age when you work in such a place for long. If at the end of a year, you cant be able to save up to 1M, just try as much as you can to quit the job. Though its not easy, but its better you bear the heat and get out when you are strong and agile than wait when you get old.

My advice is that as early as possible, one should start looking for a business to start, irrespective of the nature of the business, as long as its legal and pays your bill just dedicate yourself to it and nurture it to growth/maturity. Business is easier to manage and nurture when your personal expense and responsibility is still very low, thats why its good to start when you are still under your parent, as a student or during NYSC. That way, even when the business fail, you have your family to fall back on until you gather the necessary resource to start again.

On a last note, when you have a striving business, by the time your kids grow up, one or two of them can you in the business and probably be on their own by having an offshoot of your business. That way they wont have to be looking for a job after school especially in this period of unavailability of jobs. But if you retire as a worker, you have nothing to pass to your kids to help them kick start their life. They will have to search for job or establish their own business.

I will also advice that if you have the opportunity of picking up a job as a sales rep of a company, please do not hesitate to accept it as this type of job gives you first hand experience of how businesses of buying and selling works. You will get to know how the market moves, the season when some certain goods are in high demand and with this experience, starting your own business in same line wont be difficult for you as you can even get some capital and purchase goods in the name of your customer and if you have a good relationship with him or with those around, selling the goods wont be much difficult through their help pending when you get your own shop/warehouse.

MODIFIED...
My own rule of thumb is... IF YOUR JOB IS YOUR ONLY SOURCE OF INCOME, DONT QUIT YOUR JOB FOR A SIDE BIZ UNTIL THE BIZ IS A "GOING CONCERN" AND IS GIVING YOU MORE THAN HALF OF YOUR MONTHLY SALARY.

LikeAking:
Story,story.

U no go manage wetin u don see.

Keep dreaming.

Go into biz after retirement.

Best advice to any worker.

AltarBoy1:
I will have to stop here for now. I welcome any form of question or criticism. But no insults plz.

merits:
Bros nice write up,for me I prefer real estate.because you don't need to quit your job to succeed in real estate moreso real estate always appreciate never depreciate and stress free just make sure you purchased your property from genuine source that's all.

Moneyboyz:
I have 400k right now but do not know what business to do with it

JohnBullMySon:
op you have said the truth but you forgot that the rate of heartbreak and failure is also very high. for every success story, there are ten failure stories in business.

AltarBoy1:
I will have to stop here for now. I welcome any form of question or criticism. But no insults plz.

bestmutiu2019:
hmmm nice write up o.p.am into plumbing and tilling work base in ore ondo state,due to low work,I gather like 100k then rent shop around march started okrika business as a side hustle,the time I started business is moving but now the market is not moving again some says that my market is too cost though I sell grade A.I am now regretting starting this business

yazga:
Your mom is the best person to meet to educate &, enlighten you in the business, if possible open the shop let her manage it because if her experience but ensure you learn. We learn everyday don't stop learning.

The business you about to delve into is a business that can make you a silent millionaire.

AltarBoy1:
I will have to stop here for now. I welcome any form of question or criticism. But no insults plz.

yazga:
Start with your family members

cayorday89:
I did helped her out then, I was like the distributor, I used wheelbarrow to deliver to customers, she stopped the business long time ago cos of travel stress and she is old now, but from the lil experience I can manoveur things through..

AsapKen:
To be honest, this is a very informative right up. Take your time and read it

BOOKWORMLUX:
I got to know of sm websites that help me earn $1 daily which is about 450naira. I thought it was too small, but right now i have $174 BTC(about #90k) btween october n december.
i am grateful that i did nt give up.
to you it is small, bt it means a lot to me. i only invest my time and data to do same thins i do here on nland, makin comments.
i am just a student and dont have much to carter for.
I believe that with God by my side, i will make it in this life.

Godsspeed:
Those pieces of advise in this writeup are what Facilitators gather people to tell them at a cost, but here we are getting them free of charge , that's why many don't value it. OP thank you so much.

yazga:
Dear Sir,

Please don't push her into a business she doesn't have passion for. since she u highly enterpreneurial, let her do the business if her choice.

We all attended University in our family apart from my elder sister she refused to go to university saying the end product is still money.

I am not trying to boast o! today she is the wealthiest is the whole family (immediate and extended). She has ONLY SSCE even the result she doesn't have Mathematics and English.

AltarBoy1:
Well, I dont really know. I really want to have another source of income before leaping out. So far, the little investment that I have made didnt stand. And the capital burnt out. Hopefully this coming year if the country remain fairly stable, I will leap out cos there is another investment that am targeting. Just trying to raise the capital required.

AltarBoy1:
99% of wealthy people are business men, you wont get to a greater height in wealth if you dedicate your entire life on a paid job. The average worker who is upright and doesn't involve in shady dealings ends up not been too wealthy or achieving much in life. Aside from multinational company's, most firms in Nigeria pay belwo 100k and when you factor in cost of leaving and daily expenses, how much can one save out of the salary in a month. Thats why I noted in the beginning of this write up that except you are working in a firm where your salary is above 100k and promotion/upward review of salary is certain within 3 years, then you are just wasting your youthful age when you work in such a place for long. If at the end of a year, you cant be able to save up to 1M, just try as much as you can to quit the job. Though its not easy, but its better you bear the heat and get out when you are strong and agile than wait when you get old.

My advice is that as early as possible, one should start looking for a business to start, irrespective of the nature of the business, as long as its legal and pays your bill just dedicate yourself to it and nurture it to growth/maturity. Business is easier to manage and nurture when your personal expense and responsibility is still very low, thats why its good to start when you are still under your parent, as a student or during NYSC. That way, even when the business fail, you have your family to fall back on until you gather the necessary resource to start again.

On a last note, when you have a striving business, by the time your kids grow up, one or two of them can you in the business and probably be on their own by having an offshoot of your business. That way they wont have to be looking for a job after school especially in this period of unavailability of jobs. But if you retire as a worker, you have nothing to pass to your kids to help them kick start their life. They will have to search for job or establish their own business.

I will also advice that if you have the opportunity of picking up a job as a sales rep of a company, please do not hesitate to accept it as this type of job gives you first hand experience of how businesses of buying and selling works. You will get to know how the market moves, the season when some certain goods are in high demand and with this experience, starting your own business in same line wont be difficult for you as you can even get some capital and purchase goods in the name of your customer and if you have a good relationship with him or with those around, selling the goods wont be much difficult through their help pending when you get your own shop/warehouse.

MODIFIED...
My own rule of thumb is... IF YOUR JOB IS YOUR ONLY SOURCE OF INCOME, DONT QUIT YOUR JOB FOR A SIDE BIZ UNTIL THE BIZ IS A "GOING CONCERN" AND IS GIVING YOU MORE THAN HALF OF YOUR MONTHLY SALARY.

Lush100:
Even though, I don't have a physical business location,
I have 3 sources of income.
I'm looking for a 4th one.

That's why I'm looking for a fmcg deal if u check my last post on this thread.
Other options are transport biz
or massage centre for now.

yazga:
Start with your family members